This study attempts to analyze the significance of the three consecutive Nobel Peace Prizes, announced after the Kyoto Protocol came into force in February 2005, in establishing a complex system of emission economics which is reorganizing the globe into blue and green zones. The paper concludes that those Peace Prizes might have been awarded with an expectation that affirmative actions towards achieving a 'common goal' of mitigating 'global warming', through the introduction of improved production technology supplied by the Northern countries, would reduce the 'global stress', specially in the Southern economies, paving way to 'global peace', in the near future. At the Major Economic Forum (MEF) in Italy, held during second week of July 2009, the intense pressure put by G8 countries on the emerging Southern economies like India to accept targets for emission reduction is a conspicuous evidence of this unfolding agenda.

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